Hey, what's going on teams? So a Fed president of St Louis just spoke today and gave a couple comments and it looks like the market is reacting as of right now. I Wanted to highlight two main points that were made today um by Mr Bullard. So let's go ahead and start this off. So overall, NASDAQ Market is slightly in the red.

Uh, we do see that we have that same common resistance range right around 310 and right now we have a common support range that was established yesterday. Uh, you can see that we have not broken below it. Right around 307 has been a common support range that we have still not made lower lows. We're getting rejected by this 310 resistance common support right around 3 307.

Realistically right and this comes shortly after. Again, like we said, the Federal Reserve CEO of St Louis Uh, James Burlard, also also known as Jim Bullard said some comments today the two main takeaways and again, please feel free to watch his speech. They also shared one of his statements. two main things: He says that if the Federal Reserve does not continue to stay the course with its Target of inflation at two percent that we're not talking about 2008 or 2007 anymore that it would take us back to where we were in 1970, that it would be very, very dangerous for our overall economy to not stay the course with our fight against inflation.

With that Target of two percent, my second takeaway is what he said as a target for interest rate hikes, so the market has currently factored in this most recent interest rate hike and maybe one more. And then the market thinks this is what the Market's factored in right based off of Market expectation. they have factored in rate Cuts based off of James Bullard's comments today. He thinks that we should have around two to three more interest rate hikes by the end of the year, not taken into consideration any interest height.

He thinks that we should be very hawkish with our fight against inflation, which is why I can see the market is reacting in a negative way. Now again, this is not Jerome Powell that is saying this. this is you know, James Bullard Jerome Powell is the head of the Federal Reserve and actually has voting rights. This is the CEO of, um, what's it called the CEO of the Federal Reserve Bank of St Louis So very different, right? I Just wanted to make sure that you guys understood why the market is reacting the way that it is and again support as of right now at 307, if we break below that, I'm going to begin to short the market.

I did take a position on Tqs when the market was indicating signs of an uptrend, but as of right now, it's beginning to sell off and this is where if it breaks below this, I'm gonna have to close this position and go into Sqq. So again, something that I will have to follow up with. I Appreciate your guys's time I Just wanted to make sure that I kept you guys up to date on why the market is reacting the way that it is. Remember if there's any uncertainty of Market Direction and or you think you think that things are still unclear, then I want to remind you that there is no need to force a position if you do not feel ready, right? Any open position is a position that is open to risk.

One of the things that I love reminding are beginner. Traders is to stay patient and during an uncertain time there's nothing wrong with staying cash for there to be a more clear opportunity to present itself, something that we will have to follow up with. If you guys have any questions, you guys know exactly how to reach out to me and that's going to be via Discord or via Instagram and that's the first or third link in the description down below. Also, do not forget I Do trade live every single morning and if you think that it would be of value for you to be able to watch me trade live that is exclusively with my LBP team again, they get to watch me trade live every single day.

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On our green note, take it easy team.